MACPOWER

Macpower CNC Machines share price & financials

Price
₹1,182.05
Market cap
₹1.5k Cr
Sector
Capital Goods
Calls analysed
7
Latest concall · Q1 FY27 · call held 30 Jul 2026

Macpower CNC Machines Limited Q1 FY27

Revenue ₹95.24 cr +56%EBITDA ₹15.43 cr +95%EBITDA Margin 16.2% PAT ₹9.58 cr +110%

What went well

  • Achieved highest-ever Q1 performance across revenue, EBITDA, and PAT.
  • Revenue increased by 56.1% YoY to INR95.24 crores.
  • EBITDA grew by 95% YoY to INR15.43 crore, with EBITDA margin at 16.20%.

What to watch

  • Working capital cycle and inventory days have consistently risen over the past three years, though management views inventory as strategic.
  • Timeline for defence and aerospace bids (INR376 crore under evaluation) remains uncertain, with tenders pending for two years.
Read the full call →

What Macpower CNC Machines Limited does

Macpower CNC Machines manufactures computerised numerically controlled (CNC) machine tools — turning centres, vertical and horizontal machining centres, 5-axis machines, turn-mill centres and double-column machines — used by automobile, agriculture, pump & valve, defence, aerospace and general-engineering customers. It runs a single manufacturing unit at Metoda GIDC, Rajkot, Gujarat, and has backward-integrated into sheet-metal, spindle and powder-coating production plus its own Macatrol® CNC controller, reducing reliance on bought-out sub-assemblies. Machines are marketed and serviced through branch offices, technology centres and business associates spanning 39 cities across India, with the premium NEXA series aimed at higher-end, higher-value applications including defence.

Segments

  • CNC Machine Manufacturing
Installed manufacturing capacity
2,500 machines/year
Manufacturing plant
1 unit, ~8 acres at Metoda GIDC, Rajkot, Gujarat
Employee strength
964+
Product portfolio
380+ variants/models across 27+ industry segments
Cumulative machine installations
13,389+
Sales & service presence
39 cities
Founded 2003Headquarters Rajkot, Gujarat, IndiaEmployees 964 (Q4 FY26) Company website

Guidance record · Q1 FY27

what the last two calls moved 16 tracked 4 delivered 1 missed 11 open
  • Manufacturing Capacity delivered said Q3 FY25 Promised: 2,500 will be available for the next '26 (April end 2025) Q1 FY27: Capacity of 2,500 machines re-confirmed as the current base, with a 90%+ utilization target for FY27.
  • EBITDA Margin missed said Q1 FY26 Promised: trying to maintain EBITDA margin 18% in this financial year Q1 FY27: Historical promise, status remains missed.
  • Land Acquisition Timeline delayed said Q3 FY25 Promised: making their payment in April (2025) Q1 FY27: Still delayed. Management now cites the 'Vikshit Gujarat New Industrial Policy 2026' and expects resolution within a month after the Vidhan Sabha session ends.

All 16 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 56.1%, net profit up 110.1% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue71 60 80 61 86 +21%86 +43%100 +25%95 +56%
EBITDA13 8 14 8 14 +11%16 +99%16 +14%15 +95%
Net profit8 4 9 5 9 +13%10 +119%10 +18%10 +110%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance +99.7% 1Y

₹1.0k₹1.5k₹2.0kSept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 14 Nov 2025Q3 FY26 — 11 Feb 2026Q4 FY26 — 27 May 2026Q1 FY27 — 30 Jul 2026

1Y: ₹923 on 10 Sept 2025 → ₹1,843. High ₹2,007.1 (28 Aug 2026), low ₹778.25 (7 Nov 2025).

How the price took the results

close before → close after

Q1 FY27
+5.5%
30 Jul
Q4 FY26
−8.1%
28 May
Q3 FY26
−1.6%
11 Feb
Q2 FY26
−1.2%
14 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 18.2% a year over 3 years, FY23 to FY26. Operating margin widened to 16.2%.

Year endingFY23FY24FY25FY26
Revenue₹202 Cr₹241 Cr₹262 Cr₹333 Cr
Operating profit₹21 Cr₹35 Cr₹41 Cr₹54 Cr
Operating margin10.2%14.7%15.8%16.2%
Interest₹0 Cr₹0 Cr₹1 Cr₹2 Cr
Depreciation₹3 Cr₹4 Cr₹6 Cr₹7 Cr
Net profit₹13 Cr₹24 Cr₹25 Cr₹34 Cr
Net margin6.4%10.0%9.7%10.2%
Cash from operations₹5 Cr₹17 Cr₹7 Cr₹14 Cr
Free cash flow₹-2 Cr₹6 Cr₹-9 Cr₹3 Cr
ROCE19.0%30.0%27.0%29.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹10 Cr₹10 Cr₹10 Cr₹10 Cr₹10 Cr₹10 Cr
Reserves₹62 Cr₹75 Cr₹87 Cr₹109 Cr₹145 Cr₹165 Cr
Borrowings₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹1 Cr₹1 Cr
Other liabilities₹62 Cr₹58 Cr₹42 Cr₹61 Cr₹97 Cr₹90 Cr
Total liabilities₹134 Cr₹143 Cr₹139 Cr₹180 Cr₹253 Cr₹265 Cr
Fixed assets₹37 Cr₹40 Cr₹44 Cr₹47 Cr₹60 Cr₹61 Cr
Capital work in progress₹1 Cr₹0 Cr₹0 Cr₹3 Cr₹0 Cr₹1 Cr
Investments₹20 Cr₹5 Cr₹5 Cr₹5 Cr₹0 Cr₹0 Cr
Other assets₹76 Cr₹98 Cr₹91 Cr₹125 Cr₹194 Cr₹204 Cr
Total assets₹134 Cr₹143 Cr₹139 Cr₹180 Cr₹253 Cr₹265 Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

What the price assumes

Attractive

To justify its price of ₹1843, this stock must grow earnings at 29% every year for 7 years. Our analysis caps realistic growth at ~38%. At that growth it is worth ₹2843 — upside of 54%.

Growth the price implies
29.0% a year
for 7 years, fading to 4%
It has actually compounded at
38.0% a year
net profit, FY23–FY26 · EPS 38.0%
The gap
-0.1 pp
54% downside if it only repeats history
Price today ₹1,843 Value at the reference growth ₹2,843.1

Change the assumptions yourself →

All earnings calls (7)

Read the Q1 FY27 call →

Learn to analyse Macpower CNC Machines Limited

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